Business News: Pets at Home, Sports Direct, Markit


Wood directed the Cheshirebased retailer’s stock market fl oat in 2014 during his four years at the control and took home £790,461 last year, including pension, perk and other benefits. He will stay on in an advisory role until July 1.

He im rted: “It has been a privilege to lead Pets At Home for four years, but I discern the time is right for me to be based in London with my family.”

Kellett has been on the grouping’s board for the st decade, and was in charge of its retail business. His y will encom ss a basic salary of £475,000.

SPORTS Direct founder Mike Ashley revealed he will resist a formal summons to face a grilling by MPs in rliament outstanding the treatment of his workers.

The Newcastle United owner could be in contempt of rliament if he ignores the convokes to give evidence before the business, innovation and skills committee on June 7.

It turned down Ashley’s bidding to visit its warehouse in Derbyshire, to see working practices.

But Ashley countered: “The undercurrent intention is not to go because they ought to see it for themselves. They would score a more informed decision if they are able to see it themselves. They indubitably don’t care about the people at Sports Direct.”


CITY investor Edi Truell has been snubbed by the board of the digital invoicing com ny he get went two years ago after he offered to merge its assets with his other talk inti.

Truell, who owns 16 per cent of Tungsten Corporation, resigned from the game table yesterday as his suggestion was dismissed as “universally without merit for shareholders”.

The guests said Truell’s approach did not involve an offer for its shares but a proposed array of its network business with other assets.

It said this would father left it with a “minority stake in an enlarged group of dis rate, illiquid assets controlled by Mr Truell”.


UK-BASED fiscal data group Markit is merging with US business research provider IHS to beget a £9billion number-crunching powerhouse.

IHS investors will own about 57 per cent of the linked IHS Markit, which will be headquartered in London with certain key operations in Colorado.

Both rties are listed in the US. Markit, founded in 2003 by Canadian former bond salesperson Lance Uggla in a barn in Hertfordshire, provides pricing and reference materials, index and valuation services.

Cost savings of $125million are thought by the end of 2019.


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